Porsche has announced changes to its EV strategy, confirming it will no longer expand its in-house battery production business.
The decision has been made because of a slower-than-expected take up of electric cars. Investment will be redirected into a broader product and software offensive.
This marks a significant shift in Porsche’s product strategy and comes just months after it secured a majority stake in V4Smart, a joint venture with German battery specialist Varta.
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